New Account Registrations - temporarily disabled

🤝 Help
44

Same issue not able to withdraw funds

45

Did you maybe use some other method to put your funds in? I did that and had to email support to add my bank account on, they usually reply pretty quick about funding issues

46

I used Apple Pay the first time and the second time I used my debit card

47

I can’t believe them, I just want my funds back into my bank

48

Number 1 in the app store. As is Robinhood in America. lol

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49

@Team212 , Have you resumed the New account registrations?

50

So this restriction is for all type of accounts? ISA and invest too? Trying to open account for my wife and had issues in the past. Wanted to try again.

51

seems to be for all accounts currently that I am aware. I imagine the registrations would be reopened some point next week once the queue has been greatly sorted out and the volatility of the last week settles.

52

It’s the Robinhood of Europe anyway…

// Edit: until Robinhood comes here…

53

robinhood won’t be coming anytime soon and only with a limited offering (US stocks only) when they do. so IMO RH is rather the T212 of the US, but less appealing.

54

Robinhood were going to launch in the UK in 2020 but then they cancelled. Presumably because Trading 212 has too much market share to compete with and Robinhood proposition isn’t any different to Trading 212’s. No USP other than the brand name.

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55

RH cancelled because they realised they had limited ability to expand and the capital was better spent solidifying their shaky core market which is the US. sticking close to home often yields the most returns and the extremely limited offering they were giving to Europe would not have seen a significant enough volume of clients onboarding with them for all the effort and expensive.

56

That’s pretty much what I said

57

except its not. T212 had no bearing on RH decision and the offerings are very different. T212 is global access for European and US stocks and ETFs, RH was offering US stocks only. I just elaborated on why they cancelled.

58

How do you know it had no bearing on the decision? Do you work for Robinhood? Were you in the meetings with Vlad and team? So if the UK had no trading apps similar to Robinhood they wouldn’t have attempted to enter the market even though they actually were going to until last year.

59

reasons:

  1. Robinhood made an announcement declaring the reason which I mentioned in my post.
  2. The media and other “popular” platforms continue to treat T212 as if it doesn’t exist.
  3. The investment and trading market is far from saturated and there is nothing that declares the people who use 1 platform won’t use another as well. It’s extremely common for traders and investors to use multiple brokers and platforms.
  4. Companies don’t pull out of a market just because of the presence of another company. otherwise every national industry would be comprised of a monopoly.

I disagreed with your presumption due to the publicly available information. I mentioned details you didn’t, so how could I have repeated what you said?

60

“1. Robinhood made an announcement declaring the reason which I mentioned in my post.”

I’ve worked in the London PR industry for 14 years. What a private company says publicly and what a private company means are often two different things. Why would a company admit they’re not launching in a new territory as planned because the competition is too tough? Regardless, to imply that the success of Trading 212 in the UK had no bearing on the decision is false. If the opportunity was apparent they’d have continued as planned.

" 2. The media and other “popular” platforms continue to treat T212 as if it doesn’t exist."

Not sure that that has to do with anything in this conversation. The UK media will start talking about Trading 212 now because the US media are talking about Robinhood. Soon there’ll be hit pieces on how users lost all their savings.

“3. The investment and trading market is far from saturated and there is nothing that declares the people who use 1 platform won’t use another as well. It’s extremely common for traders and investors to use multiple brokers and platforms.”

Trading apps are not like social media apps. Facebook came to the UK (and elsewhere) from the US because of the network effect. Trading apps don’t have such effects. If a country already has a good service (as T212 is) then it’s difficult to ween people over to your service. Unless a new service has a truly unique offering then it will be difficult for any new entrants to get users to make the switch. New users might join but Trading 212 has brand recognition. Plus they all offer the ‘free stock’ when you sign up these days.

" 4. Companies don’t pull out of a market just because of the presence of another company. otherwise every national industry would be comprised of a monopoly."

They didn’t pull out of the market because they were never in it to begin with. Secondly, companies change direction either from a geographic, service or product PoV all the time in light of new information or market changes.

61

Not for long it ain’t the way things are working thus far. I’m beyond disappointed.

64

Us stocks is the place to be. Europe is a dead dead market